[Congressional Record Volume 141, Number 90 (Monday, June 5, 1995)]
[Senate]
[Pages S7653-S7654]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         THE UNBALANCED BUDGET

  Mr. PRESSLER. Mr. President, I have just returned from my State of 
South Dakota, where I listened to the farmers, small businessmen, 
students, wives, and citizens of South Dakota for 9 days. I found many 
were thanking me for voting for the balanced budget resolution, the 
Domenici-Dole budget that passed the U.S. Senate about 2 weeks ago. The 
people of our country want change. They want us to do something about 
the huge deficit that has been built up and they feel we have taken the 
first step. The message I heard loud and clear was, ``Please take the 
second and third steps now.''
  For the first time since I have been in the Senate, this body passed 
a real budget that will move us toward a balanced budget in the year 
2002. But even with a balanced budget in 2002, we will still have a 
huge deficit. In some of my high school graduation speeches, I 
predicted they will have to pay a tax surcharge on their income taxes 
for most of their lives to help pay down the Federal deficit, or at 
least pay interest on it.
  I know the dullest story in the world probably is the Federal 
deficit, but cattlemen are aware that our budget that we passed here, 
if we stick to it, will result in lower interest rates. It will also 
result in a stable dollar so that there can be international trade. 
Senior citizens understand that the cuts in Medicare are merely a cut 
in the rate of increase. Medicare has been increasing at a 10-percent 
increase. This budget allows about a 7-percent increase, and it 
provides for streamlining, doing away with fraud and abuse, and other 
steps within Medicare and Medicaid so they can still provide solid 
service.
  Even the Democrats' study predicted that Medicare would go bankrupt 
by the year 2000 unless something is done. I find it very strange that 
many are criticizing the Domenici-Dole budget but they did not provide 
an alternative here on the Senate floor. There was the alternative of 
President Clinton which every Member of this Chamber voted against.
  I do not mean to be partisan, but I would say I am very proud and I 
have found my constituents thankful that Congress has finally started 
to address the budgetary deficit problem. There is also a strong 
feeling among senior citizens that to keep our currency solvent, our 
dollar stable, and to avoid inflation is worth a great deal to them. 
This budget will start to do that if we stick to it. [[Page S7654]] 
  So the message I got from my constituents was, ``Thank you for the 
vote on the balanced budget that went through the Senate.'' But they 
are a little nervous about us. They say, ``You are on second base. Keep 
going.'' So that is the message I bring back from my constituents. I 
think it is an important one to our Nation, because it is our No. 1 
domestic problem, the unbalanced budget.
  Mr. President, I yield the floor. I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. BINGAMAN. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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